Cleanspark (NASDAQ:CLSK) Given New $14.00 Price Target at Keefe, Bruyette & Woods

Cleanspark (NASDAQ:CLSK) had its target price trimmed by Keefe, Bruyette & Woods from $18.00 to $14.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cleanspark in a research note on Monday, December 29th. B. Riley Financial lowered their target price on Cleanspark from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. HC Wainwright dropped their target price on Cleanspark from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Chardan Capital cut their price target on shares of Cleanspark from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Needham & Company LLC reduced their price target on shares of Cleanspark from $25.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.83.

Cleanspark Stock Up 1.1%

Cleanspark stock opened at $10.19 on Monday. Cleanspark has a fifty-two week low of $6.45 and a fifty-two week high of $23.61. The company has a debt-to-equity ratio of 1.29, a quick ratio of 10.54 and a current ratio of 10.54. The firm has a 50 day moving average price of $12.24 and a 200 day moving average price of $12.97. The company has a market capitalization of $2.61 billion, a PE ratio of -9.52 and a beta of 3.47.

Insider Buying and Selling

In related news, Director Amanda Cavaleri sold 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.02, for a total value of $495,660.00. Following the sale, the director owned 107,289 shares of the company’s stock, valued at $1,611,480.78. This trade represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Leigh Wood sold 85,315 shares of Cleanspark stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $11.69, for a total transaction of $997,332.35. Following the completion of the transaction, the director owned 41,421 shares of the company’s stock, valued at $484,211.49. This represents a 67.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cleanspark

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Cleanspark by 3.0% in the third quarter. Vanguard Group Inc. now owns 26,051,850 shares of the company’s stock valued at $377,752,000 after buying an additional 769,148 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cleanspark by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,536,772 shares of the company’s stock valued at $83,139,000 after acquiring an additional 101,401 shares during the last quarter. Invesco Ltd. raised its position in shares of Cleanspark by 22.1% during the 3rd quarter. Invesco Ltd. now owns 4,482,527 shares of the company’s stock worth $64,997,000 after acquiring an additional 810,203 shares in the last quarter. Tidal Investments LLC raised its position in shares of Cleanspark by 13.3% during the 3rd quarter. Tidal Investments LLC now owns 4,366,437 shares of the company’s stock worth $63,313,000 after acquiring an additional 514,062 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cleanspark by 57.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company’s stock worth $62,521,000 after purchasing an additional 1,564,761 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

About Cleanspark

CleanSpark, Inc (NASDAQ: CLSK) is a leading energy software and services company specializing in advanced microgrid controls and distributed energy resource (DER) management. The firm develops proprietary software platforms designed to optimize power flows across on-grid and off-grid installations, integrating renewable generation, battery storage, and traditional generation assets. CleanSpark’s technology is used by utilities, commercial and industrial enterprises, and remote facilities seeking to enhance energy resilience, reduce operating costs, and achieve sustainability goals.

In addition to its core software offerings, CleanSpark provides end-to-end engineering, procurement and construction (EPC) services.